Accountants’ body seeks green light to set minimum rates

Accountants have set in motion a process that could introduce minimum fees they can charge for advisory services offered to different categories of clients, setting businesses up for a possible escalation of the cost of compliance.

The Institute of Certified Public Accountants of Kenya (ICPAK) has written to the Competition Authority of Kenya (CAK) seeking to introduce minimum professional fees in new industry guidelines expected to come into force mid next year.